by admindan | Jan 10, 2023 | Loan Programs, Money Tip
Do you know a recently licensed doctor looking to purchase a home and doesn’t have much cash in reserves? I recently received a referral from another Loan Officer for a borrower in Massachusetts looking to purchase a home. That lender required 36 months reserves. Wow!...
by admindan | Dec 21, 2022 | Loan Programs, Money Tip
Homeowners are looking for lower costs to finance home upgrades, pay off credit card debt and lend to family members as needed. Prime rate, and the Fed Funds rate, is expected to keep rising to combat inflation and stay high through 2023 until the inflation rate...
by admindan | Nov 1, 2022 | Loan Programs, Money Tip
Yes, mortgage rates are expected to go higher in the near term, but should decline in 1 to 5 years as the Federal Reserve combats inflation. So, how do you save the most amount of money on your mortgage loan? Solution: 10/1 ARMs at a much lower rate. Below are a few...
by admindan | Oct 25, 2022 | Loan Programs, Money Tip
Since mortgage rates are so high now and expected to rise more, you could save a ton of money by asking the seller if they have an FHA or VA mortgage loan at a low fixed rate that you could assume. If the seller has 3% rate loan versus minimum 6%+ today n $600k loan...
by admindan | Oct 18, 2022 | Loan Programs, Money Tip
Are you looking to purchase a home? Scared mortgage rates are increasing too much? Do you want to Lock in the rate NOW while you shop for ANY home? Awesome Solution: Lock and Shop loan program, new or used home! Loan scenario: 15% down, $1.2 million purchase price,...
by admindan | Oct 4, 2022 | Loan Programs, Money Tip
Are you looking to secure purchasing a home before selling your current home? Problem: Most lenders will calculate your debt-to-income ratio by including both current mortgage payment and new mortgage payment, so there is no way to purchase before selling your current...
